International students are vital to our economy. We must welcome them


Ewan Kirk
Mon, 5 February 2024 

(PA) (PA Wire)

The Conservatives have been in power for 14 years, and despite PM Rishi Sunak’s attempts to close their deficit in the polls, a Labour government before the end of the year looks increasingly likely.

There are things I won’t miss about the Conservative government, but the party’s burning obsession with reducing inbound migration, at any cost, is probably top of my list.

This obsession was a key force behind Brexit and has seen hundreds of millions spent on the backward, senseless, and, as of yet, failed Rwanda policy.

Most recently, the Government introduced new visa rules to block the families of international students from residing in the UK. Unfortunately, and perhaps erroneously given their often non-permanent status, international students are lumped into the overall net migration figure, making them (and now their families) a target for the Conservative’s migration obsession.

Now, a further announcement of a “review” of the two-year post-study visa for international students is only going to produce more uncertainty for incoming students and reduce the attractiveness of the UK as a study destination – which is no doubt the point of announcing a “review”.

I’m calling on the next government to reverse this student visa policy and take further steps to ensure the UK remains a top choice for international students – both for their studies and subsequent careers.

Why? Because international students play a critical role in our economy and are a vital source of funding for our universities.

International students contribute a fifth of our universities’ income, both subsidising higher education for UK nationals and facilitating research and knowledge creation that drives innovation and maintains the preeminent position of our universities internationally.

They’re also an important source of talent in our research ecosystem and for UK businesses. This is particularly true for talent in STEM subjects, which is in increasingly high demand.

The carefully constructed edifice of our further education and innovation ecosystem won’t collapse overnight, but it’ll slowly slide into the mud, weighed down by critical talent shortages, a weakened higher education system, and curtailed innovation in STEM fields that are defining the modern economy.

Rishi Sunak risks shutting the door on budding engineers, biochemists, statisticians, and many other well-needed talents, and all for the sake of political slogans. This is equivalent to Rishi Sunak shooting himself in the foot and bragging about the increased ventilation in his shoe.

If the current approach to international students continues, we can say goodbye to any chance of meeting Sunak’s ambition to make the UK a science and technology superpower and hello to further shortages in talent and continued economic stagnation.

Contrary to what some might believe, international students make a huge net contribution to the UK. These students don't pack their bags and travel to the UK to queue on NHS waiting lists and watch daytime television in their pyjamas. They’re driven, talented, and extremely hardworking. Any cost they bring is far outweighed by our ‘profit’, for want of a better term.

I firmly believe that nurturing our science and technology ecosystem is perhaps our best opportunity to lift our economic prospects. And actively incentivising migration of STEM students into the UK is one of the greatest tools at our disposal to nurture that ecosystem.

So, how do we attract and retain talented STEM students to come to the UK?

The first step must be to reverse the ban on migration of international students’ families. We need to stop putting up barriers and stop sending the message that international students aren’t welcome. But we must go further.

The second step should be to reduce the cost of study for international students, either directly through lower tuition fees or a brand-new scholarship scheme for target subjects. Reducing the healthcare levy is another easy way to reduce the burden. These are young, generally healthy people, and the levy costs us more in discouraging international students than it brings in.

A third step I’m advocating for, and perhaps the most significant, is an extension of the current two-year stay we allow after graduation to ten years. Why give students access to our brilliant universities only to send them packing before they’ve had a chance to make a significant contribution to our economy?

International students are an important pillar of our knowledge-based economy. By eroding their numbers to hit ideologically driven migration quotas, we’re weakening our foundations. The carefully constructed edifice of our further education and innovation ecosystem won’t collapse overnight, but it’ll slowly slide into the mud, weighed down by critical talent shortages, a weakened higher education system, and curtailed innovation in STEM fields that are defining the modern economy.

If we don't change track, our economy will suffer. Badly.

Let’s stop fleecing international students with sky-high tuition fees before sending them home, and let’s start recognising their immense value. The next government must end this ideology on migration and make use of international students to steer our economy back on track – sooner rather than later.

Dr. Ewan Kirk is a technology entrepreneur, early-stage investor, and Founder of Cantab Capital Partners